Bank of America today announced that it is directing $1 million in funding from the Bank of America Charitable Foundation to aid the victims of Hurricane Irma, including $250,000 to the American Red Cross Disaster Relief Fund, with the remainder to be allocated when an assessment is completed regarding specific recovery needs.
Consumer and Small Business clients affected by Hurricane Irma in FEMA-designated disaster areas in Florida may be eligible for financial assistance. The bank will contact clients directly with details. The bank has deployed mobile financial centers and mobile ATMs to supplement local financial centers in the region. Decisions regarding specific locations for those mobile capabilities will be finalized when areas of extended need have been identified.
As it did with its Hurricane Harvey relief efforts, the company is matching employee donations through an internal program, with the minimum amount eligible for matching lowered to $1 from the standard $25. To date, bank employees have donated $754,000 for both relief efforts, matched dollar for dollar by the company for a total of more than $1.5 million.
The company previously announced $1 million in Hurricane Harvey relief funding, for a total to date of more than $3.5 million in collective commitment from the company and its employees related to the two storms.
"We will do all we can to continue to assist the communities and our customers experiencing the devastating effects of these hurricanes,” said Bank of America Chairman and CEO Brian Moynihan.